- Dubai’s bank Emirates NBD has issued a warning against crypto investments.
- The bank issued the warning in its recent mid-year update.
- In addition, the bank cited high volatility and market uncertainty as the main risk factors.
Dubai-based Emirates NBD Bank (ENBD) has warned customers against crypto investments. Notably, the bank issued the warning during its recent update webinar.
Additionally, the warning was due to the volatile nature of BTC and other cryptos. In fact, Georgio Borelli, head of the bank’s asset allocation and quantitative strategies, said: “The volatility of digital currencies must abate for its wider adoption in finance.”
The banker added that for institutional investors and fund managers to embrace crypto, the high level of volatility must first subside. However, Borelli also accepted that the volatility and risky nature of crypto is part of its appeal. Borelli made the comments during the bank’s Global Investment Outlook 2021 webinar.
However, despite the high volatility, the use of crypto has increased this year. In…
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